GameStop Corp (NYSE:GME) shares are trading higher Wednesday ahead of the company’s four-for-one stock split.
GameStop’s board approved a four-for-one split in the form of a stock dividend at the beginning of July. GameStop shareholders of record at the close of business on July 18 will receive a dividend of three additional shares for each then-held share. The stock dividend will be distributed after the market closes on Thursday.
GameStop was also among the most mentioned stocks on r/wallstreetbets over the last 24 hours.
AMC Entertainment Holdings Inc (NYSE:AMC) shares surged on Wednesday after the company highlighted the strength of its balance sheet. AMC said it was able to repurchase more than $72 million of second lien debt at a significant discount during the second quarter. GameStop and AMC often move in tandem as the pair of stocks are extremely popular among retail investors.
See Also: AMC Entertainment CEO Highlights ‘War Chest Of Cash’: What’s Going On With AMC Stock?
GME Price Action: GameStop has traded between $255.69 and $77.58 over a 52-week period.
The stock was up 4.63% at $158.48 at press time, according to data from Benzinga Pro.
Photo: JJBers from Flickr.
